Nest56 Opens in Denver to Support Youth Exiting Foster Care

Nest56 at Denargo Market is a lifeline for transition-age youth exiting foster care or experiencing homelessness in Denver.

The new community features 56 affordable housing units along with supportive services to help its residents achieve stable, independent lives. By prioritizing vulnerable young adults ages 18 to 24, Nest56 fills a crucial need in the city’s housing landscape.

Developers Pennrose and Rivet Development Partners are collaborating with TGTHR, a Colorado nonprofit dedicated to ending youth homelessness, to provide on-site case management, life-skills training, job placement, health services, and other programs. In addition, RedLine Contemporary Art Center operates a satellite studio in the building to offer affordable cultural and creative outlets for residents and the Denver artist community.

“We’re investing in future generations,” says Shannon Cox Baker, regional vice president at Pennrose. “When you start to work with young people you can see a direct impact on changing lives, changing the trajectory of not just one individual’s life but their family’s as well.”

She notes that Nest56 is home to 10 children younger than 2. These families are starting out in new furnished apartments that are well resourced without the burden of market rents. They are also part of the Denargo Market redevelopment area, a neighborhood that’s undergoing revitalization with new condos, offices, retail, as well as recreational and cultural amenities.

The $27.4 million Nest56 was supported by multiple public and private funding sources, including 4% low-income housing tax credits, Colorado state housing tax credits, and bonds. It was also awarded Housing Choice Vouchers from the Colorado Division of Housing, ensuring that all units remain affordable. The Colorado Division of Housing, the city and county of Denver Department of Housing Stability, and the Department of Housing and Urban Development provide funding for supportive services.